Bill > H5768

This bill modifies vehicle registration rules in two key ways. First, it allows vehicles leased for 36 months that are typically registered in two-year cycles to receive a one-year renewal registration to better align with the lease term. Second, the bill establishes a new policy for vehicle registrations where if a person voluntarily cancels their vehicle registration during the registration period (such as when ending a lease or sale agreement early), the Division of Motor Vehicles (DMV) will issue a credit for the unused portion of the registration fee. This credit can be applied to future registration fees for that individual. The changes aim to provide more flexibility for vehicle owners and lessees by allowing them to recoup a portion of their registration fees if they cancel their registration before the full term expires. The bill would take effect immediately upon passage.

Budget and Finance

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